WhatsApp cofounder Jan Koum has filed a lawsuit against interior designer Remi Tessier, alleging a pattern of fraud including inflated prices and undisclosed commissions. One example involves a $7.8 million Picasso painting where Tessier allegedly received a $600,000 secret commission from the gallery. Separately, the National Museum of Korea faced backlash after posting a photo of its director with music executive Bang Si-hyuk, who is under criminal investigation for alleged stock fraud. The article also reports that Sotheby's has appointed Evelyn Lin as Asia chairman of modern and contemporary art, and that global auction sales of Old Masters rose 24% in the first half of 2025, with younger collectors increasingly buying old paintings.
This matters because it highlights tensions in the high-end art market, where wealthy collectors are increasingly scrutinizing dealer practices and demanding transparency. The lawsuit against Tessier could set a precedent for accountability in art advisory and interior design services. Meanwhile, the rise in Old Masters sales among younger buyers signals a generational shift in taste and wealth transfer, with Millennials moving away from contemporary art toward historical works. The National Museum of Korea controversy underscores the risks museums face when associating with figures under legal scrutiny, especially in the context of cultural partnerships and public trust.